Trade agreements lead to recovery

Over the nearly 10 months since I was sworn into the Senate, Washington has been gripped by unnecessary gridlock and dysfunction – even as families and job creators call for policies that can jumpstart our economy.

President Barack Obama has been traveling the country with an eye on his reelection, pointing fingers at Congress for the lagging national economy. Yet the president conveniently ignores the fact that his policies – including the so-called stimulus – have stalled economic growth instead of spurring job creation. Meanwhile, the Democratic-controlled Senate has failed to pass a budget for nearly 900 days, forcing Congress to renew federal spending in fits and starts, as our debt skyrockets to a record high.

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That’s not the way to run the country. Fortunately, this week, we took an important step in the right direction to get our economy back on track.

With support from both parties, Congress passed three pending trade agreements with South Korea, Colombia and Panama to help encourage private sector job creation in Missouri and nationwide.

I’ve worked closely with my colleagues to reach a bipartisan consensus to move these agreements forward – because they simply make economic sense. By expanding global exports, we can generate jobs and revenue for farmers, manufacturers and other businesses in Missouri and across America – without costing taxpayers a dime.

A look at the facts demonstrates why free trade is critical for our economy. America is the second largest exporter of goods, the largest exporter of services and the largest combined exporter in the world.

Trade with our current partners supports almost 18 million U.S. jobs. With these three trade agreements, it’s estimated that U.S. exports will increase by more than $12 billion a year – including an additional $2.5 billion in agricultural exports annually. By the Obama administration’s own estimates, every $1 billion worth of agricultural exports supports an estimated 8,000 jobs nationwide.

These trade agreements are also good news for Missouri – where trade-related jobs grew more than three times faster than total employment from 2004 to 2008. Our state’s exports to South Korea alone increased 415 percent from 1997 to 2010 – compared to a national average of 55 percent. Meanwhile, Missouri agriculture exports already support more than 37,000 jobs – a number likely to grow with passage of these critical agreements.

Across the state, Missourians have shared their stories with me about how these agreements will directly affect their lives and businesses.

Many farm families expressed concerns about the future, as they look for ways to boost sales and compete in markets worldwide. Business owners told me that they are worried about their market prices and recognize that increased global competition will lead to increased revenues. Other job creators stressed the importance of removing government-mandated trade barriers, which are hampering their attempts to develop product and expand their businesses.

With the bipartisan passage of these agreements, job creators in Missouri and nationwide now have a chance to prosper.

In Washington, I hope that we can harness this momentum to work together on other crucial economic issues facing the country – including reducing burdensome regulations, encouraging more domestic energy and passing a pro-growth tax policy.

It’s clear that we can no long afford more of the same. Americans are looking for certainty and a stable economic environment – not the president’s push for a second stimulus and tax hikes on job creators.

There’s still much work to be done if we’re going to get our economy back on track. But I believe the passage of these free trade agreements is a step in the right direction – as we strive to help put more people back to work.

Sen. Roy Blunt (R-Mo.) is on the Appropriations Committee, where he serves as ranking member of the Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies. He also serves on the Commerce Committee, where he serves as ranking member of the Subcommittee of Competitiveness, Innovation and Export Promotion.